Pacer Advisors Inc. lifted its stake in Colgate-Palmolive (NYSE:CL) by 10.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,330 shares of the company’s stock after purchasing an additional 2,106 shares during the period. Pacer Advisors Inc.’s holdings in Colgate-Palmolive were worth $1,627,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CL. Renaissance Technologies LLC increased its stake in Colgate-Palmolive by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,753,400 shares of the company’s stock worth $723,020,000 after buying an additional 2,903,800 shares in the last quarter. APG Asset Management N.V. increased its stake in Colgate-Palmolive by 243.0% in the 3rd quarter. APG Asset Management N.V. now owns 4,070,784 shares of the company’s stock worth $296,557,000 after buying an additional 2,884,100 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Colgate-Palmolive by 35.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,641,548 shares of the company’s stock worth $483,837,000 after buying an additional 1,750,417 shares in the last quarter. Vanguard Group Inc. increased its stake in Colgate-Palmolive by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 67,875,384 shares of the company’s stock worth $5,031,602,000 after buying an additional 1,621,392 shares in the last quarter. Finally, Swedbank purchased a new stake in Colgate-Palmolive in the 3rd quarter worth $102,014,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
Colgate-Palmolive (NYSE CL) opened at $75.42 on Friday. The firm has a market capitalization of $66,160.00, a PE ratio of 29.12, a PEG ratio of 3.19 and a beta of 0.81. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27.
In related news, COO Justin Skala sold 126,393 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the transaction, the chief operating officer now owns 262,361 shares of the company’s stock, valued at approximately $19,144,482.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Mukul Deoras sold 7,500 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $73.28, for a total transaction of $549,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 45,217 shares of the company’s stock, valued at approximately $3,313,501.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,048 shares of company stock valued at $13,168,995. Company insiders own 1.02% of the company’s stock.
A number of brokerages have issued reports on CL. Zacks Investment Research lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada reiterated a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Macquarie began coverage on Colgate-Palmolive in a research note on Thursday, September 14th. They issued a “neutral” rating and a $76.00 price target for the company. Morgan Stanley upgraded Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. Finally, Jefferies Group cut their price target on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $76.33.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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